332,012 Shares in Wealthfront $WLTH Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in Wealthfront (NASDAQ:WLTH) in the third quarter, HoldingsChannel reports. The institutional investor purchased 332,012 shares of the company’s stock, valued at approximately $3,446,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in shares of Wealthfront by 793.2% during the third quarter. Sterling Capital Management LLC now owns 2,751 shares of the company’s stock valued at $29,000 after buying an additional 2,443 shares during the last quarter. Royal Bank of Canada purchased a new position in Wealthfront in the 1st quarter worth $27,000. Squarepoint Ops LLC acquired a new stake in Wealthfront during the 2nd quarter worth about $90,000. Arizona State Retirement System acquired a new stake in Wealthfront during the 2nd quarter worth about $102,000. Finally, ProShare Advisors LLC acquired a new stake in Wealthfront during the 3rd quarter worth about $122,000.

Wealthfront Price Performance

Shares of Wealthfront stock opened at $10.20 on Friday. The firm has a fifty day moving average price of $10.45 and a 200 day moving average price of $9.73. Wealthfront has a 1 year low of $7.20 and a 1 year high of $14.88. The stock has a market cap of $1.59 billion and a PE ratio of -10.97.

Wealthfront (NASDAQ:WLTH) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $91.87 million during the quarter. Wealthfront had a negative return on equity of 14.62% and a negative net margin of 19.42%. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Wealthfront will post 0.37 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Wealthfront in a report on Friday, October 2nd. Wells Fargo & Company raised their price objective on Wealthfront from $11.50 to $12.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Wealthfront in a report on Wednesday, October 7th. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Royal Bank Of Canada cut their price target on shares of Wealthfront from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.36.

Insiders Place Their Bets

In other news, CTO Julien Wetterwald sold 26,138 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.10, for a total transaction of $263,993.80. Following the completion of the sale, the chief technology officer owned 696,525 shares of the company’s stock, valued at $7,034,902.50. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lauren Lin sold 4,574 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $10.10, for a total value of $46,197.40. Following the completion of the transaction, the insider owned 171,816 shares in the company, valued at approximately $1,735,341.60. This trade represents a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 270,688 shares of company stock valued at $2,796,816 in the last three months. 27.36% of the stock is currently owned by company insiders.

About Wealthfront

Wealthfront is a U.S.-based digital financial services company that provides automated investing, cash management and financial planning tools. Its platform is designed to help individuals manage savings and investments through online accounts and software. Wealthfront’s offerings include diversified investment portfolios managed with automated strategies, cash accounts offered through partner banks, and tools for setting financial goals and tracking progress. The company has also offered services such as individual stock investing and portfolio lines of credit.